The Nigeria Labour Congress (NLC) Tuesday rejected the imposition of 0.005 percent Cybersecurity Levy on electronic transfers.
The president of NLC, Comrade Joe Ajaero, in a statement said the directive by the Central Bank of Nigeria (CBN) to be implemented by deduction at the transaction origination is yet another burden on Nigerians.
Comrade Ajaero said the congress view this lavy as a gang up by the elites to continue its extortion and exploitation of Nigerians.
The statement reads: “The Nigeria Labour Congress (NLC) vehemently condemns the recent directive by the Central Bank of Nigeria (CBN) to levy a 0.005 percent Cybersecurity Levy on electronic transfers. This levy, to be implemented by deduction at the transaction origination, is yet another burden on the shoulders of hardworking Nigerians.
“In a circular issued by the CBN, the directive mandates banks and payment service operators to affect these deductions, effective next two weeks. This move, ostensibly aimed at bolstering cybersecurity measures, threatens to exacerbate the financial strain already faced by the populace.
“The Nigeria Labour Congress recognises the importance of cybersecurity in today’s digital age. However, imposing such a levy on electronic transactions, without due consideration for its implications on workers and the vulnerable segments of society, is unjustifiable. This levy stands as another tax too much for Nigerians, burdening them with additional financial responsibilities.
“We see in this levy another gang up by the ruling elite to continue its extortion and exploitation of hapless and helpless workers and the masses so that their cronies in various financial centres can continue wallowing in unbridled consumption.”
